I just went to a site and took a quiz on finances to see how I rated. After taking the quiz, I learned that my “IQ score” is 90%. Pretty good, right? Well, then I started looking to see where I could improve. The lowest ‘section’ for me was ‘wealth’ — although I have a retirement plan (and I fudged a little because technically I’m not employed right now-but if I WAS, then I would contribute to it every month, and my husband DOES do this), I do not yet own a home so we’re ‘blowing’ money on rent, and I do not have life insurance or a plan for how to invest my 401K. We were aware of these issues to begin with, but for the uninformed, this website may just be what you need to kick your tail and remind you to step up to the plate. As far as that goes, though, everything is pretty good. We do have these things ‘in the works’ it is just that we are not quite there yet. But we ARE working on it. There are positives, though, that we have taken steps towards in the last few years. We purchased a vehicle that we will keep for a long time. We have established good credit by always making our payments on time and paying off loans to a financial institution early and thereby making them LOVE us. We also have kept credit cards to less than 2/person and made plans to pay them off as soon as possible. We don’t buy anything we know we cannot afford. Usually, we try to only put things on there that we can pay off each month. We take advantage of short term credit opportunities that offer 0% interest and no payments for a year, and then pay the items (like furniture) off in under a year and thereby avoid the interest that would have built up on a credit card, and make manageable payments, which allows us to focus on our BIG bills such as student loans. Needless to say our finances are healthy. Which is what the quiz shows.
The quiz was easy to take and did not ask for any personal information. There are offers that might lead you off of their site (for example to look at your credit report), but you do not have to do them if you do not want to. Use your own judgment on that. Do you need credit counseling or just to pay more attention to your bill due dates? That’s something you will have to decide for yourself. Take the quiz and see your Bills IQ!